# Bitwise USCC Live On Aave Horizon

*Bitwise becomes the investment manager of USCC, a tokenized crypto carry fund, with over $121m deposited on Aave Horizon.*

By [ETH Daily](https://ethdaily.io) · 2026-06-02

["aave", "horizon", "bitwise", "superstate", "uscc", "rwa", "tokenization", "defi"]

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Bitwise has [become](https://x.com/aave/status/2061784136084295928) the investment manager of USCC, formerly known as the Superstate Crypto Carry Fund, now rebranded as the Bitwise Crypto Carry Fund. Superstate continues to run the onchain infrastructure while Bitwise takes over as fund manager. USCC is a tokenized market-neutral fund that earns yield by exploiting price disparities between spot and futures markets, while also earning staking yield on spot ETH holdings.

The fund holds $140 million in AUM on Ethereum mainnet. Over $121 million in USCC is already deposited on [Aave Horizon](https://ethdaily.io/771), where it can be used as collateral at up to 85% LTV. Horizon is Aave Labs' dedicated lending market for [tokenized real-world assets](https://ethdaily.io/843) (RWAs) on Ethereum.

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*Originally published on [ETH Daily](https://ethdaily.io/bitwise-uscc-live-on-aave-horizon)*